queries related to Partnership firm accounting

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akbar (Querist)
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21 June 2010 Sir,

Kindly suggest solution on the following queries related to Partnership firm accounting:-

1) As per deed business start 04/02/2009 and now firm required to make accounting for the finacial year 2009-10 and required to file income tax return than kindly suggest to period which is not covered in f.y 2009-10 how can treated in accounting policy i.e 04/02/2009 to 31/03/2009.

2) local sale exemption limit on sale of firm for the f.y 2009-10.

3) for applicability of P.F AND P.T how much number of employee limitation in firm

akbar saudagar

nilesh kshirsagar

nilesh kshirsagar (Expert)
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24 June 2010 you have to considered this matter in 2 years
1 st begines from 04/02/2009 to 31/03/2009
and 2 nd from 01/04/2009 to 31/03/20010
segregate the transaction accordingly
and file return